The Argument: Why the GOP should urge David Cote to run for U.S. Senate in N.H.

Every day where Republicans don't have a candidate to run for the U.S. Senate in New Hampshire, Democratic incumbent Jeanne Shaheen gets an even bigger head start.

As it currently stands, former U.S. Sen. John E. Sununu is the best hope for Republicans, but no one expects he is headed for a third match-up against Shaheen. This leaves two former U.S. Reps -- Frank Guinta and Jeb Bradley -- giving a Senate run the most thought even though they have lost to Democrat U.S. Rep. Carol Shea-Porter three times when you combine their losses. Further, neither Guinta nor Bradley have been particularly strong fundraisers.

If Republicans do want to win back the Senate seat once held by Sununu, Gordon Humphrey and Syles Bridges, they will need to go beyond the current field of candidates.

Let me offer up for the sake of argument: Honeywell CEO David Cote.

Cote returned to his native New Hampshire on Monday leading a conversation on the national debt, with a group he co-founded called Fix the Debt. While there was no indication that his appearance was for anything other than to talk about the nation's debt, his demeanor, his knowledge and his background give him a political resume that shouldn't just be looked over.

Cote for U.S. Senate makes sense for six different reasons.

1. He is New Hampshire through and through

First some quick background on Cote. He was born and raised in the Manchester area. Instead of going to college he took the money set aside for that to buy a car and ended up in Michigan. He returned to the Granite State to attend UNH. He worked in a factory while attending college. He and a buddy also bought a lobster boat and fished commercially. He returned to General Electric after college and worked his way up until he was in contention to take over the entire company.

He headed up one company after the next and was a success. He has been the CEO of Honeywell, based in New Jersey, since 2002. He is 60 years old. Forbes Magazine estimated he made over $55 million just in 2012. Though he is a Republican, President Barack Obama appointed him to be a member of the Bowles-Simpson debt commission. John Kerry gave him birthday wishes from the floor of the U.S. Senate saying he was a leader on green technology. Cote hunts. Unions don't like him. He prefers jeans to suits. He seems at least marginally interested in politics given who he hangs out with.

His mom still lives in New Hampshire.

2. Republicans need a savior to have a chance

Washington pundits and even the National Republican Senatorial Committee haven't placed Shaheen's contest in the top tier of races they are looking at in 2014, even though she has only been elected once and in a Republican wave year. For these groups to even care about New Hampshire there needs to be a candidate that could bring general excitement. While Sununu would fit the bill, Cote is a fresh face who has never taken a vote.

3. He could be a self-funder

Any Republican who wants to challenge Shaheen better have a plan to raise at least $10 million in the next two years. Former U.S. Senate candidate Bill Binnie is probably the only other potential Republican who could do that without a lot of help nationally, including Sununu.

It is hard to determine Cote's net worth, but if Forbes Magazine is correct, he'll earn $10 million in less than three months.

4. Simpson-Bowles

New Hampshire is as fiscally conservative state as they come. As the state recently honored the death of former U.S. Sen. Warren Rudman, Cote could continue in his -- and former U.S. Sen. Judd Gregg's -- tradition of calling for a balanced federal budget.

His position on the Simpson-Bowles Commission will have its liberal and conservative critics with it's call for both reduced entitlement spending and tax increases, but it is unimpeachable for it's seriousness and policy cred.

5. Defense background

With his background in defense contracting, Cote can also credibly speak on national security issues. Yes, it was reported that he skipped out on military service even after pledging to, in order to attend UNH, but when it comes to sequestration or military funding he knows his stuff.

6. He actually has something to say

Unlike a lot of politicians he won't be running just to be somebody with a bigger title, but he will be running a campaign because he has a cause. Someone who makes the money he does did not have to sign up for Fix the Debt. He didn't have to expose himself at St. Anselm College to protesters yelling at him about how much taxes he pays.

He did it because he believes in his cause. Whether voters agree or disagree with him is another matter for another day.

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